Video-conferencing platform Zoom Video Communications Inc founder Eric Yuan transferred about 18 million shares worth over US$6 billion last week, according to a regulatory filing.
The transfers were related to Yuan's estate planning practices, a Zoom spokesperson said."The distributions were made in accordance with the terms of Eric Yuan and his wife's trusts."Yuan, who is also the chief executive officer of the company, transferred roughly 40 per cent of his stake in the company to unspecified beneficiaries, Zoom disclosed in a filing late on Friday .
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